Economic optimization of resource-constrained project scheduling： a two-phase metaheuristic approach

This paper deals with the problem of project scheduling subject to multiple execution modes with non-renewable resources, and a model that handles some of monetary issues in real world applications. The objective is to schedule the activities to maximize the expected net present value （NPV） of the p...

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Vydáno v:Frontiers of information technology & electronic engineering Ročník 11; číslo 6; s. 481 - 494
Hlavní autoři: Chen, Angela H. L., Chyu, Chiuh-Cheng
Médium: Journal Article
Jazyk:angličtina
Vydáno: Heidelberg SP Zhejiang University Press 01.06.2010
Springer Nature B.V
Témata:
Algorithms
Combinatorial analysis
Communications Engineering
Computer Hardware
Computer Science
Computer Systems Organization and Communication Networks
Electrical Engineering
Electronics and Microelectronics
Heuristic methods
Instrumentation
Networks
Nonrenewable resources
Optimization
Resource scheduling
Net present value (NPV)
F205
Branch and bound (B&B) algorithm
Project scheduling problem
C935
Memetic algorithm (MA)
ISSN:1869-1951, 2095-9184, 1869-196X, 2095-9230
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Shrnutí:This paper deals with the problem of project scheduling subject to multiple execution modes with non-renewable resources, and a model that handles some of monetary issues in real world applications. The objective is to schedule the activities to maximize the expected net present value （NPV） of the project, taking into account the activity costs, the activity durations, and the cash flows generated by successfully completing an activity. Owing to the combinatorial nature of this problem, the current study develops a hybrid of branch-and-bound procedure and memetic algorithm to enhance both mode assignment and activity scheduling. Modifications for the makespan minimization problem have been made through a set of benchmark problem instances. Algorithmic performance is rated on the maximization of the project NPV and computational results show that the two-phase hybrid metaheuristic performs competitively for all instances of different problem sizes.
Bibliografie:F205
Memetic algorithm （MA）, Branch and bound （B＆B） algorithm, Net present value （NPV）, Project scheduling problem
C935
ObjectType-Article-1
SourceType-Scholarly Journals-1
ObjectType-Feature-2
content type line 14
ISSN:1869-1951
2095-9184
1869-196X
2095-9230
DOI:10.1631/jzus.C0910633